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The executive will report to UIB LatAm CEO Carlos Gutierrez.
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The executive will be based in Zurich and report to international CUO Joerg Bruniecki.
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The broker was part of a mass resignation from Guy Carpenter last year.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.
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Oversupply of capacity will outweigh casualty and per-risk concerns.
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The reinsurer experienced a “notable decrease” of catastrophe losses last year.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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Sources are expecting multi-billion new limit to be placed.
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He was executive managing director in Aon’s wholesale treaty team.
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Insured losses from the Christmas storms reached $968mn.
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The carrier has reported that full limits remain on all insurance cover.
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Twia’s actuarial and underwriting committee made the recommendation last week.
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The MS Re CEO said 1 January oversubscription levels on cat were not notable.
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The Australian insurer will have $1.7bn of core XOL cover this year.
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The move followed efficiency considerations and the current state of the Chilean market.
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Its property cat aggregate cover renewed with improved coverage.
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The increase in limit reflects the carrier’s growing exposure.
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Firms issued notice in respect of some commercially reinsured war risks.
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The review followed a methodology change.
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The ratings agency also affirmed the reinsurer’s A- FSR rating.
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The broker will be based in Miami and offer solutions in lines including property, energy, construction and financial lines.
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The source of the funding is one of the most problematic elements for sources who spoke with this publication following the draft bill’s release on Friday.
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The executive joins the company as it looks to bolster its reinsurance capabilities.
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Both executives will report to CEO Guillermo Eslava.
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Participating insurers would be required to provide all-perils property insurance for residential and commercial policyholders.
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The business will bring together aviation, marine, cyber, engineering and parametric solutions.
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Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.
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Some reinsurers could be heading into 2024 with spare capacity, the reinsurance leader said.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
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RedRiff Agency will underwrite A&H insurance and reinsurance through a Lloyd’s consortium led by Beat 4242.
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It is expected to have a negative impact on profit after tax in 2024 of approximately $500mn.
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The CEO anticipates reinsurers to continue focusing on attachment levels and that appetite for specialty classes will be higher.
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The bill removes a previous Farm Bill requirement mandating that carriers purchase unlimited catastrophic reinsurance. Instead, companies can purchase “adequate” catastrophic reinsurance.
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Other senior executives, including CFO Robert Qutub and general counsel Shannon Bender, received stock awards of $750,000 for their involvement in the Validus Re acquisition.
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After moving into the rank of fifth-largest reinsurer, following its acquisition of Validus, RenRe said it would continue to take a leading role in the regional cat space and expected to be more able to trade through market cycles.
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Sources are now seeing estimates far in excess of Cresta’s $2.2bn October tally.
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Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.
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Work is at an exploratory stage, with efforts focused on London specialty and US P&C mid-market expertise.
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E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.
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The executive brings more than 25 years of global reinsurance broking experience to the new company.
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Sources said the Houston, Texas-headquartered program manager is now writing business on Sutton National paper.
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The New Zealand-based carrier has also decreased the upper limit of its catastrophe programme from NZ$934mn to NZ$750mn.
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However, most P&C insurers will still miss their cost of capital targets and as a result, rate hardening and capacity constraints are expected to continue into 2024, according to Swiss Re.
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Property remained the largest class of business, whilst North America is an increasingly important income source.
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Plus this week’s executive moves and all the latest exclusives of the week.
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The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.
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Some reinsurers are developing products and solutions for cedants’ newly retained risk under those higher attachment points, executives noted.
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